Chevron Corporation $CVX Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in shares of Chevron Corporation (NYSE:CVX) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,531 shares of the oil and gas company’s stock after selling 9,196 shares during the quarter. Chevron makes up approximately 1.0% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 25th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Chevron were worth $4,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Vanguard Group Inc. grew its position in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after buying an additional 27,961,463 shares in the last quarter. State Street Corp grew its position in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Chevron during the third quarter worth about $988,083,000. Bank of New York Mellon Corp grew its position in shares of Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after buying an additional 4,279,918 shares in the last quarter. Finally, Amundi grew its position in shares of Chevron by 41.8% during the third quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock worth $1,811,333,000 after buying an additional 3,464,058 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $185.13 on Monday. The business has a 50 day moving average price of $192.56 and a 200 day moving average price of $170.28. The stock has a market cap of $368.82 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 0.78 and a beta of 0.60. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 12.49 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Buying and Selling

In other Chevron news, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 779,407 shares of company stock valued at $145,972,971 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it’s included in lists of high-flying “old economy” stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Sanford C. Bernstein boosted their price objective on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Mizuho boosted their target price on Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Argus set a $203.00 target price on Chevron in a research note on Tuesday, February 3rd. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $198.09.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.